Baghdad is signaling a potential departure from OPEC if its oil production quota isn't substantially raised, a move that would further destabilize the cartel. While Iraq's current strategy is to remain a member and push for a higher share, the possibility of an exit looms. This comes as Iraq grapples with a severe financial crisis, making an increased quota a critical necessity.

Iraq's oil exports collapsed over 97% due to the Iran conflict, dropping from 3.32M bpd to 96K bpd. OPEC+ approved a modest quota increase as Iraq scrambles

Iraq will be compelled to consider all options if its quota in the Organization of the Petroleum Exporting Countries (OPEC) is not significantly...